Ig Design Share Discussion Threads

[se81] 26/4/2023 07:39

From the telegraph yesterday

[blackhorse23] 24/4/2023 10:32

Next GATC , share price will be over 200p in few weeks

[fegger] 20/4/2023 15:23

I'm out. Refinancing will be more expensive than previous deal. These are going to slide over the rest of 2023 because they wont be able to show much progress this year.Will look to get back in at lower level.

[se81] 20/4/2023 11:08

And Progressive leave FY23 & FY24 forecasts unchanged…interesting

[aleman] 20/4/2023 10:57

They're rationalising an acquisition and dropping loss-making contracts resulting in margins beating expectations! Ignoring the non-cash write-down, results are going to be ahead of forecasts. Their markets were already challenging in the last year.

[justiceforthemany] 20/4/2023 10:44

Even on an adjusted basis this is barely making a profit! Caution and deteriorating trading everywhere in that statement.

[wall street trader] 20/4/2023 09:46

They need shares to fill a big order is how they work - best way is to panic holders

[aleman] 20/4/2023 09:05

It was a very odd price move this morning. Trading over 180p yesterday and opened at 136p. It was the market makers that decided to drop the price rather than initial trading from investors. Why?

[aleman] 20/4/2023 08:55

Weaker trading in UK with non-cash write-down. Stronger trading in Europe. Margins and profit ahead. How can margins, profit and cash ahead of previous guidance be a profit warning? The refinancing looks likely to get away without a hitch, opening the door to return of dividends.

[se81] 20/4/2023 08:32

Why speculate re profit warning or not? Canaccord have given the revised numbers (presumably guided by the company)- upgraded FY23E, FY24E unchanged in terms of profitability (revenue downgrades for both)

Bal comes across as extremely conservative

Dip being bought

[wall street trader] 20/4/2023 08:29

just some profit taking - Im holding long term for the return of the dividend

[justiceforthemany] 20/4/2023 08:24

It read as a profit warning and guidance was dire. Hence the sell off. No dividend likely. I am out.

[aleman] 20/4/2023 08:15

Shipping costs have hit record lows recently. This company had some supply chain issues. They should have freed up considerably and that is probably why margins ahead of expectations.

[volsung] 20/4/2023 08:15

Doubled my stake here at 151p

[tonytyke2] 20/4/2023 08:13

Yep Aleman, the turnaround here looks underway imo. Better than expected group margins and increased cash balances looking significantly improved.With inflationary pressures set to ease imo, this will only help IGR. I maybe adding today.

[aleman] 20/4/2023 08:11

The shares have performed well (+61%) since the interims and we believe today’s update should also be well-received with scope for further positive re-rating given the progress being made with margin recovery.

Margin and cash ahead of forecast trumps slight sales weakness. Shares should be up not down.

[blackhorse23] 20/4/2023 08:10

Revenue down after price increases, net cash down , profit warning... glad switched to GATC

[aleman] 20/4/2023 08:03

Margin and cash running ahead of expectations is a profit warning? It's just a non-cash write-down they're getting done ahead of the refinancing.

[time 2 retire] 20/4/2023 08:00

Another profit warning for the UK arm of IGR, it's about time we exited old blighty, we've been the poor relation for far too long.
Looks like we're opening down 50p ffs.

[se81] 20/4/2023 07:53

Cannacord this morning- revised estimates look ok

"Today’s update highlights IG Design Group has achieved a better-than-expected FY23E
financial outcome. Whilst revenues reduced yoy by c.8% (-4% cc) to c.$890m (CGe
$909m) principally as a result of lower H2 volumes and the decision to exit loss-making business, margin recovery was better than expected with FY23E operating margins
increasing by c.140bps yoy to 1.8% (CGe 1.1%), delivering adjusted PBT of c.$9m (CGe
$3.4m), ahead of previously communicated market expectations. Net cash at c.$50m
(CGe $34m) is also better than expected and should augur well as the Group finalises
its refinancing, we expect completion in the near term. The Group expects new facilities to run until spring 2026 and to be more appropriate to its working capital profile. The search for a new Group CFO is well advanced and the Group expects this to be completed shortly, and we note that there is a new senior leadership team (CEO and CFO) now in place in the Americas division. A stable platform has now been created from which the Group can continue to recover margins back to pre-pandemic levels. The FY23E margin beat prompts meaningful upgrades to our FY23E profit forecasts, but at this stage we leave FY24E EBIT/PBT forecasts unchanged. The shares have performed well (+61%) since the interims and we believe today’s update should also be well-received with scope for further positive re-rating given the progress being made with margin recovery. We expect further detail on the growth-focused strategy at the prelims in June."

"We have updated FY23E forecasts to reflect the better-than-expected margin, profit and net cash outcomes. Looking ahead we leave FY24E EBIT/PBT expectations unchanged
at this stage, mindful of the continuing challenging macro and consumer backdrop and
management’s caution on pricing expectations for peak 2023"

[aleman] 20/4/2023 07:42

Net cash has gone from £25m to £40m and margin has expanded when the company is not firing on all cylinders yet. The company was priced to go bust a year ago. Clearly, it is making progress even if markets are not making life easy. A non-cash write-down won't make much difference to anything.

[justiceforthemany] 20/4/2023 07:37

'ahead of expectations'
50M cash

[boonboon] 20/4/2023 07:04

Not the best update.

[blackhorse23] 17/4/2023 09:02

Bought GATC today